Dollar Index Has Updated Local Highs Again

The US dollar strengthened against a basket of currency majors again. The dollar index (#DX) closed yesterday in the green zone (+0.17%). News of the plane crash in Iran is in the focus of attention. Previously, it was assumed that the passenger Boeing crashed due to technical malfunctions. However, now the British and American media say that it was Iran that fired two missiles, as a result of which a crash occurred.

Investors expect additional drivers. Today, financial market participants will assess labor statistics from the US and Canada. We recommend paying attention to the difference between the actual and forecasted values of the indicators. These reports may have a significant impact on the dynamics of currency majors in the short term.

Today, during the Asian trading session, optimistic economic data from Australia have been published. Thus, retail sales rose by 0.9% in November instead of 0.4%.

The “black gold” prices have been declining. Currently, futures for the WTI crude oil are testing the $59.40 mark per barrel. At 20:00 (GMT+2:00), Baker Hughes US rig count will be published.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.68%), #DIA (+0.75%), #QQQ (+0.85%).

The 10year US government bonds yield is consolidating. At the moment, the indicator is at the level of 1.861.87%.

• Report on the labor market in the US at 15:30 (GMT+2:00);
• Labor statistics from Canada at 15:30 (GMT+2:00).

by JustMarkets, 2020.01.10